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The End of Fortunoff?
NRDC Equity Partners LLC, the owners of the famous Fortunoff Jewelry retail department store are looking to liquidate the stores merchandise and close a glorious chapter in jewelery retail, according to Bloomberg News.
Fortunoff filed Chap. 11 last year and was bought by NRDC. Now with a miserable economy and declining sales, a return to Chap 11 and liquidation is a distinct possibility.
Fortunoff's flagship store at 57th street and Fifth Avenue in New York City was closed this week at the expiration of its lease.
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